Tax reforms set to attract investors to Italy
22 April 2008
Forthcoming government reforms could trigger a period of renewed growth in Italy's housing market, according to experts.
Foreign Property Buyer said Prime Minister Silvio Berlusconi pledged to scrap the main tax on properties during this month's election campaign.
The website believes that since the country also offers exemptions from capital gains tax, this latest reform could act as a further incentive to buy an Italian house.
Commenting on its investment potential, it said: "Fees and taxes are a large part of any overseas property investment.
"The abolition of any of these will make a significant difference to property purchasing in the country."
Foreign Property Buyer added that if Berlusconi does act upon his promise, this could push property prices up.
Therefore, investors could possibly get considerable tax-free returns should they sell up further down the line.
Italy's appeal to foreign property buyers was recently highlighted by NuWire Investor, which said demand for accommodation in popular tourist spots makes it a particularly good investment.